2010 Dividends Derived from US Government

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2010 Dividends Derived from U.S Government Obligations In some states, mutual fund dividends (ordinary income) derived from certain U.S. government obligations may be exempt from state income taxes. A portion of the dividends paid by Janus in 2010 may qualify for this exemption. The table below provides the percentages of dividends (the amount reported in box 1a of Form 1099-DIV) attributable to U.S. government obligations, direct and indirect, paid by Janus in 2010. Please consult your tax adviser if you have questions about how or if you should report this information.

Fund – Class D Shares

Janus Growth Allocation Fund Janus Moderate Allocation Fund Janus Conservative Allocation Fund Janus Fund Janus Enterprise Fund Janus Global Select Fund Janus Research Fund Janus Triton Fund Janus Twenty Fund* Janus Venture Fund* Janus Global Life Sciences Fund Janus Global Technology Fund Janus Balanced Fund Janus Contrarian Fund Janus Research Core Fund* Janus Growth and Income Fund INTECH Risk-Managed Core Fund Perkins Small Cap Value Fund* Perkins Mid Cap Value Fund* Perkins Large Cap Value Fund Perkins Global Value Fund Janus Global Real Estate Fund Janus International Forty Fund† Janus International Equity Fund Janus Global Research Fund Janus Overseas Fund Janus Worldwide Fund Janus Flexible Bond Fund Janus High-Yield Fund Janus Short-Term Bond Fund Perkins Value Plus Income Fund Janus Money Market Fund Janus Government Money Market Fund

Percentage of Dividends Derived From: Other Direct U.S. Other Indirect U.S. Treasury Government U.S. Government Securities(a) Obligations(b) Obligations(c)

4% 6% 6% 0% 0% 0% 0% 0% 0% 0% 0% 0% 6% 0% 0% 3% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 7% 0% 7% 4% 0% 0%

0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 2% 3%

0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 13% 22%

Notes: (a)

Direct U.S. Government Obligations: U.S. Treasury Securities – includes bills, notes and bonds Other Direct U.S. Government Obligations: includes Federal Farm Credit Banks, Federal Home Loan Banks and Student Loan Marketing Association (c) Other Indirect U.S. Government Obligations: includes Federal Home Loan Mortgage Corporation and Federal National Mortgage Association †Janus International Forty Fund was liquidated effective September 15, 2010. *Closed to new investors Funds distributed by Janus Distributors LLC 151 Detroit St. Denver, CO 80206 (01/11) (b)